Camino Verde Group LLC is a Henderson and Las Vegas, NV based privately held real estate investment, development, and asset management company co-founded by Kevin Romney. They generate passive income, long-term equity, and appreciation for investors and owners through the purchase and development and wise management of property assets and maximizing income exit strategies.
All real estate investors know of the multiple listing service (MLS) when it comes to trying to find properties to invest in. However, only experienced investors know how to look for the elusive off-market properties for their investment portfolio. For those that don't know, off-market properties are any properties that aren't listed for sale publicly or on the MLS. As a buyer, the biggest benefit is the lack of competition. Properties listed on sites such as Zillow and Realtor have plenty of the interested buyers and competition that can drive up prices. However, off-market properties normally have little to no competition, leading to easier purchases and negotiations. For sellers, an off-market transaction is often done for privacy concerns. An owner of a multi-family unit may not want to scare their tenants by listing their property for sale. If the property ends up not selling, they may be left with a property which has no tenants. The big question is how to find off-market properties. Real estate agents are the best starting point to track down these properties. While they may not share off-market listings at first, as you start working more with an agent, they may be more willing to share their pocket listings with you. A pocket listing is a listing that an agent has exclusive rights to sell which aren't listed on the MLS. Word of mouth is another great way to hear of these properties. Contractors may know of properties that will be listed soon as they work on renovations, and even networking with other investors may give you inside knowledge on properties they aren't interested in but may be of interest to you. Finally, real estate auctions can sometimes be a great place to look for these properties as well. These off-market properties usually sell for much lower than what they're worth, but they often come with a variety of problems as well that need to be remedied before they are ready for tenants.
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AuthorBased in Las Vegas, Nevada, Kevin D. Romney is a skilled professional in the fields of business development and franchising. Kevin D. Romney currently holds the position of President of The Romney Group, a consulting services company located in Las Vegas. Archives
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